The extremity corporate cash bias remains strong, Reuters reported. According to Thomson Reuters data, companies around the world held almost $7 trillion of cash and equivalents on their balance sheets at the end of 2013, more than twice the level of 10 years ago. Capital expenditure relative to sales is at a 22-year low and some strategists reckon the typical age of fixed assets and equipment has been stretched to as much as 14 years from pre-crisis norms of about 9 years. This week's monthly fund manager survey by Bank of America Merrill Lynch, a record number of investors think companies are under-investing and some 58 of respondents want firms to deploy their cash on capital expenditure.